NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Attention Business/Financial Editors and Reporters:

Aeroquest International Limited (TSX VENTURE:AQL) announces that it has entered
into an agreement with Jennings Capital Inc. and a syndicate of underwriters
including J.F. Mackie and Company Ltd. and National Bank Financial pursuant to
which the underwriters have agreed to purchase from Aeroquest, on a "bought
deal" basis, an aggregate of 6,666,667 common shares at a price of $3.00 per
share, for gross proceeds to Aeroquest of $20 million. Aeroquest has agreed to
grant the underwriters an over-allotment to purchase an additional 1 million
common shares (15% of offering) at the issue price of $3.00 per share, which
option shall be exercisable for 30 days following the closing of the offering to
cover over-allotments and for market stabilization purposes.


In connection with the offering, Aeroquest will file a short form prospectus in
each of the provinces of Canada other than Quebec. The offering is expected to
close on or about February 5, 2008. The transaction is subject to the receipt of
all necessary regulatory approvals, including the acceptance and approval of the
TSX Venture Exchange. The net proceeds from the offering will be used to repay
notes issued in connection with Aeroquest's previously completed acquisition of
UTS Geophysics and Geophex Ltd, for general working capital, and to fund
continued growth.


The securities being offered have not been, nor will they be registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.


About Aeroquest International

Aeroquest International is a global information and technology services company
and a leader in the development and operation of innovative and proprietary
geophysical surveying platforms for the mineral and petroleum exploration, and
environmental services industries. Directly, and through its sister companies
UTS Geophysics and Geophex, Aeroquest fields a fleet of over two dozen
helicopter and fixed wing systems and is active across the world. More
information about Aeroquest can be found at www.aeroquest.ca. More information
on UTS Geophysics can be found at www.uts.com.au. More information on Geophex
can be found at www.geophex.com.


For Investors

This news release may include statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. The Company cautions that actual performance will be affected by
a number of factors, many of which are beyond its control. Future events and
results may vary substantially from what the Company currently foresees.
Discussion of the various factors that may affect future results is contained in
the Company's recent filings, available on SEDAR.
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